2009 may be seen as the beginning of the end for cheques in Ireland. According to IPSO’s 2009 annual report the volume of cheques decreased by over 13%, more than double the reduction in 2008. This brings the decrease to 23% over four years of successive decline.

Pat McLoughlin, Chief Executive, Irish Payment Services Organisation (IPSO) said ’The ultimate end of the cheque for everyday payments is inevitable. This is now recognised in Ireland where the Government approved last year the concept of a National Payments Implementation Plan (NPIP).’

While cheque volumes have declined, cheques are still accounting for 66% of the value of all non-cash payments in Ireland. Ireland is one of very few EU countries with such a great reliance on cheques. The EU average is 3%. You can find the IPSO 2009 Annual Review over on ipso.ie.

Dave

--

If you liked this article then you can:

• Subscribe to our Blog RSS feed
• Become a fan of webpayments.ie on Facebook
• Follow us on Twitter

Related Blog Posts:

• iPay API from WorldNet
• Carapay awarded Payment Institution License
• Changes to the MBNA login process

Carapay, a Realex Payments subsidiary, has been awarded a Payment Institution license from the Financial Regulator. The license is issued under the Payment Service Directive (PSD) which allows new companies into the European market without having a banking licence. The following description of Carapay is taken from the Realex Payments press release.

“Carapay will be accessible anytime, anywhere using any web or mobile device people can pay each other, pay businesses and shop online – safe, secure and in real time. Carapay can be used to pay bills, club memberships, school fees, dinners with friends or any other type of money transfer normally conducted using cheques or cash.”

Carapay is due to launch in early 2011. You can register your interest on the Carapay website.

Dave

--

If you liked this article then you can:

• Subscribe to our Blog RSS feed
• Become a fan of webpayments.ie on Facebook
• Follow us on Twitter

Related Blog Posts:

• Realex Payments to launch a PayPal-style online payment service
• Realex Payments celebrate 10 years in business
• Realex Payments Web Developers Christmas Get Together
• More businesses go online - Realex report record new signups

Related Forum Posts:

• Implications of Carapay